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Yea, something does not add up. If you are going to inherit 1mill why then are you worried about her 500k?
It doesn't add up because he's fibbing. I've read the rest of his other thread and his wife is simply concerned about long term retirement. While a trip across the US in a Winnebago (sp?) would be great, along with a cottage on the lake of their dreams, reality tends to set in hard as we get older. Perhaps if they were in their 30's it would be a different story.
Yea, something does not add up. If you are going to inherit 1mill why then are you worried about her 500k?
I was wondering the same thing. All he has to do is be patient and then he can keep HER from touching HIS money and blow it any way he sees fit!
My son in law inherited 2.5 M when his dad died and I watched him go through it in five years. But he's always been an idiot and won't ever change. The only reason my daughter has stayed with him all these years is so she can say she's "never been divorced". They were married over ten years when he got that money and have been together for nearly 25 years now. She works two jobs to keep the bills paid but thankfully their house is paid for, such as it is. He bought it as an "as is rehab" and never put a penny into it because he wanted his 'toys' instead.
The same thing happened in my family. My grandfather was a widower and married a widow lady who had two grown kids. When he died she got everything and when SHE died her kids got it all. They were only married about two years when he died. My grandfather had 4 kids who should have inherited his estate and they got zip.
My kids won't have to worry about my "estate". I don't have enough to bother with. If I won the lottery or something you can bet I'd have a trust set up! I admire you for wanting to see that your husband's kids would 'get theirs'.
Inheritance is not an entitlement Maybe grandpa didn't feel his kids deserved what he had to leave behind.
If he had, he would have left a will with their names in it. While you can disagree with the "fairness" of new wife getting this money all day long, it doesn't change the fact that it was grandpa's money to do with as HE pleased.
Inheritance is not an entitlement Maybe grandpa didn't feel his kids deserved what he had to leave behind.
If he had, he would have left a will with their names in it. While you can disagree with the "fairness" of new wife getting this money all day long, it doesn't change the fact that it was grandpa's money to do with as HE pleased.
He was close with all of his kids so it's doubtful he felt they didn't deserve anything. He DID trust his wife to "do the right thing" though. None of it had anything to do with me. I wasn't a beneficiary but I felt sorry for my aunts and uncles. My own mother had died by then so she wouldn't have been included anyway. One of my uncles did contest the will but I think he died of cancer before anything was settled.
Last edited by AZDesertBrat; 05-16-2010 at 03:26 PM..
I don't see the concern about a second spouse who inherits leaving "it" to her own children when she dies. The widow might just spend the whole thing so there might be nothing left anyway. When a person leaves all the money to a spouse, they are intentionally omitting their children. The idea of leaving it up to the spouse to do the right thing flies in the face of what a will is supposed to accomplish. Just divide the money in a way that seems appropriate.
Jambo101...as I said earlier you underestimate the forum here.
Quote:
Originally Posted by Braunwyn
According to you, your wife bought that yaris for your family. She paid off your joint debt, and now is saving the money...again, according to you, so that it goes to your kids who don't deserve it. Wife gets inheiritance - Early Retirement & Financial Independence Community This also shows that you lied. Your wife would not be entitled to a pension if she barely worked, no? Unless co's in Canada award pensions for only working a day or two a week. If so, maybe I shouldmove!
My son in law inherited 2.5 M when his dad died and I watched him go through it in five years. But he's always been an idiot and won't ever change. The only reason my daughter has stayed with him all these years is so she can say she's "never been divorced". They were married over ten years when he got that money and have been together for nearly 25 years now. She works two jobs to keep the bills paid but thankfully their house is paid for, such as it is. He bought it as an "as is rehab" and never put a penny into it because he wanted his 'toys' instead.
Something similar happened in my bloodline.. My uncle is pretty good with his money and so he would use it to send all the young relatives to collage.
Well I was hoping for my turn (when I really wanted to go to collage; USC BABY!!) but unfortanly everybody he sent to collage got strung out on drugs and lived the party life so he stopped doing it by the time I got into my teens. I'm glad it worked out that way because you learn to appreciate life a bit more when you work your own way through, although I never finished I jumped into self employment.
I don't see the concern about a second spouse who inherits leaving "it" to her own children when she dies. The widow might just spend the whole thing so there might be nothing left anyway. When a person leaves all the money to a spouse, they are intentionally omitting their children. The idea of leaving it up to the spouse to do the right thing flies in the face of what a will is supposed to accomplish. Just divide the money in a way that seems appropriate.
You can only do that if you keep it separate to begin with. Even if my father had changed his mind, once he made what he inherited from my grandparents joint property, he would have needed my step mother's approval to leave anything to his own children.
My father had an excuse though. He was bipolar and unstable. He, probably, didn't realize he was disinheriting his own children when he made everything joint. He, probably, believed she would do the "right" thing. She even told us she'd included us in her will when there was no will.
A spouse spending it all and leaving nothing for the next generation is reason enough to not leave it to a spouse.
The same thing happened in my family. My grandfather was a widower and married a widow lady who had two grown kids. When he died she got everything and when SHE died her kids got it all. They were only married about two years when he died. My grandfather had 4 kids who should have inherited his estate and they got zip.
My kids won't have to worry about my "estate". I don't have enough to bother with. If I won the lottery or something you can bet I'd have a trust set up! I admire you for wanting to see that your husband's kids would 'get theirs'.
I know that that is my husband's intent and I will make sure it happens if he doesn't.
I, probably, won't have enough to give to my kids either. So it's fortunate the plan is for them to inherit their grandfather's estate. All dh plans on taking from it is the income. The principle will be passed down to the kids. By the time they divide if 3-5 ways (dh is uncertain whether he wants all of the kids to inherit or not. One has alienated himself from dh and will inherit from his mother and one is an on again off again jailbird.) there won't be that much there but I would hope my daughters would have the sense to leave it in their names. You never know what might happen and it would be sad to lose half of their inheritance in a divorce.
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Maybe grandpa didn't feel his kids deserved what he had to leave behind. 